OSCAR-winning actress Elizabeth Taylor is being treated in hospital for heart failure.

The 78-year-old is being treated for symptoms caused by congestive heart failure, a condition she revealed she suffered from back in November 2004.

Taylor had been scheduled to attend an amfAR benefit gala Wednesday night in New York, where she was to receive an award alongside President Bill Clinton and designer Diane von Furstenberg, celebrating their dedication to AIDS research.

But she missed the event, with Elton John accepting the honour on her behalf.

Her spokeswoman said that the star was admitted to the Cedars-Sinai Medical Center in Los Angeles “for monitoring” within the last couple of days.

Sally Morrison said it was not known how long her client might stay in the hospital.

“Her family and close friends are appreciative of the warm support and interest of her loyal fans,” she said.

“But have asked that people respect her privacy and allow her medical team the time and space to focus on restoring her back to health.”Taylor, who appeared in more than 50 films, won Oscars for her performances in 1960’s Butterfield 8 and 1966’s Who’s Afraid of Virginia Woolf? But she’s been just as famous for her marriages - all eight of them, including two to Richard Burton.